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Procter & Gamble key statistics and ratios

In fiscal 2026, Procter & Gamble had return on equity of 30.1%, an operating margin of 22.7%, debt equal to 62.9% of equity and a current ratio of 0.68. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Jun 20102011Jun 20112012Jun 20122013Jun 20132014Jun 20142015Jun 20152016Jun 20162017Jun 20172018Jun 20182019Jun 20192020Jun 20202021Jun 20212022Jun 20222023Jun 20232024Jun 20242025Jun 20252026Jun 2026LTMSept 2026
Gross margin———————49.8%48.5%48.6%50.3%51.2%47.4%47.9%51.4%51.2%50.2%49.8%
Operating margin20.3%19.1%15.9%17.2%18.7%15.6%20.6%21.2%20.0%8.1%22.1%23.6%22.2%22.1%22.1%24.3%22.7%22.6%
Net margin16.4%14.5%13.1%14.1%15.6%9.9%16.1%23.6%14.6%5.8%18.4%18.8%18.4%17.9%17.7%19.0%18.4%18.2%
Free-cash-flow margin16.8%12.4%11.4%13.6%13.6%15.4%18.6%14.4%16.7%17.6%20.2%20.5%16.9%16.8%19.7%16.7%17.4%17.4%
Return on equity20.7%18.2%16.3%17.0%16.8%10.6%17.4%26.9%17.9%7.8%27.6%30.6%31.5%31.2%30.5%31.1%30.1%29.2%
Return on assets9.9%8.9%7.9%8.3%8.2%5.1%8.2%12.4%8.2%3.3%11.0%11.9%12.5%12.3%12.2%12.9%12.7%12.3%
Asset turnover0.610.610.610.590.520.520.510.530.560.580.600.630.680.690.690.680.690.68
Current ratio0.770.810.880.800.941.001.100.880.830.750.850.700.650.630.730.700.680.72
Debt to equity48.6%49.1%50.8%45.9%53.2%50.7%52.8%56.6%59.2%63.2%74.1%68.6%67.2%73.5%64.2%66.0%62.9%70.3%
Interest cover (operating income ÷ interest)16.6x18.6x17.0x20.7x19.6x17.7x23.2x29.6x26.4x10.8x33.8x35.8x40.6x24.0x20.0x22.5x22.5x22.0x
Effective tax rate————————————17.8%19.7%20.2%20.3%20.8%—
R&D as % of revenue—2.5%2.4%2.4%2.6%2.8%2.9%2.9%2.8%2.8%2.5%2.5%2.5%2.4%2.4%2.5%2.4%—
SG&A as % of revenue32.0%31.7%31.7%32.5%28.8%29.1%29.0%28.7%28.5%28.2%28.2%27.6%25.2%25.7%27.7%26.9%27.5%27.2%
Capital spending as % of revenue4.0%4.1%4.8%5.0%5.2%5.3%5.1%5.2%5.6%4.9%4.3%3.7%3.9%3.7%4.0%4.5%5.1%5.2%
Free cash flow ÷ net income102.6%85.0%86.6%96.0%86.8%154.5%115.4%61.1%114.4%305.2%110.0%108.9%92.0%94.1%111.1%87.9%94.4%95.7%
Dividends ÷ net income42.9%48.9%57.1%57.6%59.4%103.6%70.8%47.2%75.0%192.4%59.8%57.8%59.5%61.4%62.6%61.8%63.8%64.2%
Dividends and buybacks ÷ free cash flow87.7%127.8%109.0%115.1%127.8%109.4%94.4%132.8%128.4%105.1%106.0%123.7%138.4%118.6%86.6%116.6%100.7%99.8%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 7 checks passed · September 30, 2026
What it owns · $133.1bn
Short-term assets $32.5bnLonger-term assets $100.6bn
What it owes, and who funded it · $133.1bn
Short-term liabilities $45.0bnLonger-term liabilities $32.8bnShareholders' equity $55.3bn
  • Short-term assets cover short-term liabilities $32.5bn of assets due within a year against $45.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $32.5bn short-term assets against $32.8bn of longer-dated liabilities.
  • More cash than debt $15.4bn of cash against $38.9bn of debt.
  • Debt below 40% of shareholders' equity Debt is 70% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 52% to 70% over five years.
  • A year's operating cash flow covers at least 20% of debt $19.9bn of operating cash flow against $38.9bn of debt.
  • Operating profit covers interest at least five times over Operating income of $19.8bn against $902m of interest.

From Procter & Gamble's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

82 /100

Strong moat

How hard Procter & Gamble's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 15.2% of total assets over 9 years.

  • Pricing power 17 / 20

    Gross margin has been a median 49.8%, moving by 1.3 percentage points (standard deviation) across 9 years.

  • Durability 13 / 20

    Operating margin has been a median 22.3%; its worst year was 9.0%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 10 of 10 years, at a median 17.6% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 6.6% over five years; stock-based pay has been a median 0.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (87 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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More: Personal Care Products stocks compared, Consumer Staples sector, rankings of US companies

Figures from Procter & Gamble's SEC filings (10-K and 10-Q), retrieved October 23, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Procter & Gamble.